Bitcoin News Today: Coinbase Dominates Bitcoin Trading Volume as Price Surges 3.65% to $122,000

Coinbase reportedly captured the majority of Bitcoin's USD trading volume during a sharp price spike that pushed the asset to nearly $122,000 on August 11, 2025. Market data shows the exchange dominated trading activity during the 24-hour period, reflecting its continued influence in the Bitcoin spot market [1]. The price surge marked a 3.65% gain over the prior day, signaling robust institutional and retail participation [1].

The sudden upward movement in Bitcoin’s price also led to over $333 million in liquidations across the derivatives market, with short positions suffering the most significant losses. Traders leveraging short positions were caught off guard as the asset surged past key psychological levels, demonstrating the high volatility and liquidity characteristics of the market [2].

Coinbase’s ability to capture a large share of the USD trading volume is attributed to its deep order books and enhanced liquidity structure, which have allowed it to facilitate large institutional and retail trades with minimal slippage. The exchange’s leadership in product development and international expansion, as emphasized by key figures including CEO Brian Armstrong and executive Emilie Choi, has been instrumental in capturing significant USD flows during high-volatility events [1].

The Bitcoin spike occurred amid a broader trend of institutional adoption. For instance, Norway’s sovereign wealth fund, Norges Bank Investment Management, increased its indirect Bitcoin exposure by 192% year-on-year as of 2025, holding approximately 7,161 BTC valued at $844 million. This exposure was driven by increased holdings in firms such as Strategy and Marathon Digital, both of which have added substantial amounts of Bitcoin to their portfolios [3]. The development underscores the growing acceptance of Bitcoin as a strategic asset within institutional portfolios.

Coinbase’s competitive positioning in the U.S. market, supported by favorable fee structures and robust liquidity, has attracted a broad base of traders. These factors have enabled the exchange to maintain a dominant share of trading volume during periods of heightened market activity [4]. The Bitcoin price action also showed the formation of twin peaks near $122,000, sparking speculation about potential resistance levels and whether a double-top pattern is emerging [5].

As Bitcoin continues to integrate into traditional financial systems, the role of major exchanges like Coinbase in shaping price dynamics remains significant. The interplay of leverage, liquidity, and institutional interest is reshaping the crypto asset class, reflecting its increasing maturity and acceptance. With continued innovation and expansion, Coinbase appears well-positioned to maintain its leadership in facilitating large-volume trades during key price events.

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[1] https://cryptorank.io/news/feed/95032-coinbase-held-55-of-usd-volume-as-btc-spiked-to-122k

[2] https://cryptoslate.com/insights/shorts-rekt-as-btc-spike-to-122k-triggers-333m-in-liquidations/

[3] https://cryptoslate.com/insights/norways-sovereign-wealth-fund-boosts-bitcoin-exposure-by-192-in-2025/

[4] https://www.coinlive.com/news/coin-vs-hood-a-160-billion-showdown

[5] https://www.coindesk.com/tech/2025/08/11/eth-transaction-volume-climbs-on-price-rally-cheaper-defi-costs